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Eye on Lithium: Lithium exports go parabolic, set to contribute $9.4b to Australia’s economy by 2023-24

The ABS says lithium will add $9.4b to our economy in 2023/24 European Lithium nabs offtake deal with BMW for … Read More
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  • The ABS says lithium will add $9.4b to our economy in 2023/24
  • European Lithium nabs offtake deal with BMW for Austria project
  • Greenwing Resources expands brine body at Argentinian project

All your ASX lithium news for Friday, August 5.

 

The Australian Bureau of Statistics (ABS) says lithium is forecast to contribute $9.4 billion in revenue to our economy by 2023-24.

Not really surprising since Australia is the world’s biggest exporter of lithium.

“Australian exports of lithium are primarily in the form of spodumene concentrate however as global demand grows, several Australian lithium mines are commencing production of lithium hydroxide,” the ABS said.

 

In June 2022 exports passed $1b

For most of 2021, monthly lithium exports didn’t exceed $250m, but exports values more than doubled from November to December 2021.

From April 2022 to May 2022, exports of lithium almost doubled again, and in June 2022 surpassed a massive $1 billion for the first time.

In June 2022, exports of lithium concentrates reached a record high of $1,163m, up $1,073m (1189%) from June month 2021.

And for the June quarter 2022, total lithium exports were $2,632m, up $2,318m (737%) from the June quarter 2021.

 

Graph: Exports of Lithium Concentrates. Source: ABS.

 

WA exported and China imported

WA accounted for over 99% of Australian lithium exports in each month since January 2021.

And China is the one buying it all.

In 2021 China accounted for over 85% of total value in each month of 2021 and in 2022, they accounted for over 94% in each month of the year to date.

Breaking that down into monetary value, in June 2022, $1,128m worth of lithium was exported to China.

That’s around 97% of the total lithium exports for that month.

 

Here’s how ASX lithium stocks were tracking today:

Lithium stocks missing from our list? Shoot a friendly mail to [email protected]

Code Company Price % Month % Week % Today Market Cap
PGD Peregrine Gold 0.795 121% 89% 89% $16,080,533.70
TEM Tempest Minerals 0.051 -42% 19% 31% $19,685,880.86
TKL Traka Resources 0.007 17% 0% 17% $4,132,647.37
TKM Trek Metals Ltd 0.068 24% 0% 13% $18,636,609.00
EUR European Lithium Ltd 0.092 56% 23% 12% $114,226,546.69
GW1 Greenwing Resources 0.24 9% 7% 12% $26,498,180.04
EMH European Metals Hldg 0.795 19% 20% 11% $85,587,027.24
LRV Larvottoresources 0.22 0% -4% 10% $8,306,500.00
SRI Sipa Resources Ltd 0.044 26% 16% 10% $8,200,992.12
MNS Magnis Energy Tech 0.355 16% 8% 9% $315,357,731.98
QXR Qx Resources Limited 0.036 24% 24% 9% $28,358,956.59
IR1 Irismetals 0.445 89% 24% 9% $24,446,250.00
LPI Lithium Pwr Int Ltd 0.58 32% 6% 7% $188,538,217.92
MLS Metals Australia 0.06 20% 3% 7% $31,810,026.70
ALY Alchemy Resource Ltd 0.016 14% -6% 7% $14,296,110.86
CXO Core Lithium 1.29 38% 15% 7% $2,097,418,961.00
1MC Morella Corporation 0.018 0% -5% 6% $95,645,637.76
ESS Essential Metals Ltd 0.49 34% 13% 5% $114,616,652.63
AZL Arizona Lithium Ltd 0.079 -10% 3% 5% $180,369,417.08
WR1 Winsome Resources 0.2 -2% 5% 5% $25,671,658.86
GT1 Greentechnology 0.705 17% 10% 5% $123,460,660.81
CHR Charger Metals 0.51 44% 10% 5% $15,801,801.98
MTM Mtmongerresources 0.105 -13% -5% 5% $3,751,003.30
LTR Liontown Resources 1.48 49% 16% 5% $3,091,037,529.18
CAI Calidus Resources 0.755 19% 14% 5% $293,638,289.76
BNR Bulletin Res Ltd 0.11 -4% -4% 5% $30,722,065.50
MMG Monger Gold Ltd 0.24 17% 7% 4% $9,209,200.00
NMT Neometals Ltd 1.255 31% 7% 4% $660,793,557.18
INR Ioneer Ltd 0.64 49% 16% 4% $1,290,352,456.74
GL1 Globallith 1.56 34% 8% 4% $238,047,384.00
ASN Anson Resources Ltd 0.14 40% 0% 4% $138,768,165.23
AM7 Arcadia Minerals 0.14 -18% -13% 4% $6,304,215.42
EFE Eastern Resources 0.028 27% 12% 4% $26,849,789.04
G88 Golden Mile Res Ltd 0.028 -3% 8% 4% $5,500,780.58
MRR Minrex Resources Ltd 0.057 68% 39% 4% $58,308,082.86
INF Infinity Lithium 0.145 21% 7% 4% $58,101,829.24
LPD Lepidico Ltd 0.029 12% -3% 4% $182,200,802.92
EVR Ev Resources Ltd 0.029 16% 7% 4% $25,927,553.99
IGO IGO Limited 11.52 16% 8% 4% $8,428,390,758.69
KAI Kairos Minerals Ltd 0.03 50% 15% 3% $56,900,711.24
ZNC Zenith Minerals Ltd 0.3 15% -8% 3% $99,981,060.91
PLS Pilbara Min Ltd 2.86 27% 5% 3% $8,245,870,023.68
AKE Allkem Limited 11.76 16% 6% 3% $7,282,055,342.12
MIN Mineral Resources. 57.105 24% 7% 3% $10,511,753,335.50
DRE Dreadnought Resources Ltd 0.072 47% 11% 3% $198,872,348.57
MQR Marquee Resource Ltd 0.073 11% 0% 3% $22,408,848.18
VUL Vulcan Energy 7.9 36% 5% 2% $1,106,548,523.72
LKE Lake Resources 0.915 24% 18% 2% $1,243,813,635.87
CRR Critical Resources 0.046 7% 7% 2% $66,960,685.76
CZL Cons Zinc Ltd 0.0245 44% 23% 2% $9,296,587.51
PNN Power Minerals Ltd 0.5 19% -1% 2% $30,143,263.85
LIS Lisenergylimited 0.76 67% -3% 2% $123,606,069.32
GLN Galan Lithium Ltd 1.315 26% 14% 2% $392,675,176.98
RIO Rio Tinto Limited 97.04 -4% -1% 2% $35,376,905,194.20
ZEO Zeotech Limited 0.063 29% -2% 2% $94,544,759.14
LEL Lithenergy 1 48% 8% 2% $44,472,750.00
AS2 Askarimetalslimited 0.34 42% 31% 1% $15,098,205.45
LIT Lithium Australia 0.075 25% 9% 1% $76,620,290.05
WES Wesfarmers Limited 47.56 10% 3% 1% $53,290,491,374.00
JRL Jindalee Resources 2.57 -6% 0% 1% $145,742,573.64
OCN Oceanalithiumlimited 0.435 40% -1% 1% $14,415,750.00
TUL Tulla Resources 0.54 -2% -4% 1% $85,716,026.52
ADV Ardiden Ltd 0.008 14% -11% 0% $21,346,682.85
AGY Argosy Minerals Ltd 0.395 22% -1% 0% $535,713,821.59
AML Aeon Metals Ltd. 0.028 22% 0% 0% $27,751,677.04
AVZ AVZ Minerals Ltd 0.78 0% 0% 0% $2,752,409,203.44
PLL Piedmont Lithium Inc 0.66 26% 10% 0% $348,196,728.00
QPM Queensland Pacific 0.15 25% -3% 0% $234,541,969.65
RLC Reedy Lagoon Corp. 0.014 -18% -13% 0% $7,803,976.77
TON Triton Min Ltd 0.027 50% 0% 0% $33,987,172.78
BMM Balkanminingandmin 0.2 11% 0% 0% $6,550,000.00
ARN Aldoro Resources 0.2 48% -5% 0% $19,917,463.40
AAJ Aruma Resources Ltd 0.066 0% -1% 0% $10,359,459.20
PAM Pan Asia Metals 0.39 -9% 7% 0% $28,828,894.38
AX8 Accelerate Resources 0.036 20% 6% 0% $9,736,520.36
BYH Bryah Resources Ltd 0.031 11% 3% 0% $7,012,422.43
DTM Dart Mining NL 0.073 38% -11% 0% $9,873,991.68
FRS Forrestaniaresources 0.155 24% 3% 0% $4,818,377.12
IMI Infinitymining 0.125 -19% 4% 0% $7,187,500.00
MMC Mitremining 0.115 -4% -4% 0% $3,114,786.50
RAG Ragnar Metals Ltd 0.043 10% 8% 0% $16,304,950.23
SHH Shree Minerals Ltd 0.008 -11% -11% 0% $9,907,895.14
TMB Tambourahmetals 0.175 35% 9% 0% $7,208,704.65
TSC Twenty Seven Co. Ltd 0.003 0% 50% 0% $7,982,441.72
WCN White Cliff Min Ltd 0.011 -8% -15% 0% $7,189,636.98
WML Woomera Mining Ltd 0.015 -12% 0% 0% $10,302,495.99
LRS Latin Resources Ltd 0.074 6% -8% 0% $143,991,723.10
SCN Scorpion Minerals 0.065 -10% -3% 0% $21,569,027.48
ENT Enterprise Metals 0.011 0% -21% 0% $7,182,787.57
AVW Avira Resources Ltd 0.003 -14% -14% 0% $6,356,370.00
NVA Nova Minerals Ltd 0.89 24% 8% 0% $160,380,033.65
RMX Red Mount Min Ltd 0.006 9% -8% 0% $9,854,183.15
NWM Norwest Minerals 0.045 67% 5% 0% $8,127,332.42
AOA Ausmon Resorces 0.0055 -8% -8% 0% $4,715,091.39
VKA Viking Mines Ltd 0.007 17% 0% 0% $7,176,809.02
IPT Impact Minerals 0.0075 -6% -6% 0% $18,610,279.17
VMC Venus Metals Cor Ltd 0.19 12% 6% 0% $30,414,949.77
RGL Riversgold 0.028 4% 4% 0% $21,178,527.97
RAS Ragusa Minerals Ltd 0.078 0% -5% 0% $9,807,420.17
EPM Eclipse Metals 0.024 20% 20% 0% $46,107,033.91
WC8 Wildcat Resources 0.023 -12% -4% 0% $14,841,272.72
AOU Auroch Minerals Ltd 0.061 9% -2% 0% $22,551,809.74
XTC Xantippe Res Ltd 0.008 14% -11% 0% $64,107,788.51
WMC Wiluna Mining Corp 0.205 -13% 0% 0% $74,238,030.68
AUN Aurumin 0.15 25% 3% 0% $16,383,487.80
DAF Discovery Alaska Ltd 0.039 -29% -15% 0% $8,745,153.22
DAL Dalaroometalsltd 0.11 12% 0% 0% $3,286,250.00
CY5 Cygnus Gold Limited 0.215 43% 34% 0% $25,366,842.73
RDT Red Dirt Metals Ltd 0.425 6% 10% -1% $130,958,403.18
LRD Lordresourceslimited 0.2025 -16% -8% -1% $6,515,847.31
PSC Prospect Res Ltd 0.1325 180% 10% -2% $62,405,027.37
KTA Krakatoa Resources 0.049 -13% -4% -2% $17,235,495.85
SYA Sayona Mining Ltd 0.21 40% 5% -2% $1,783,972,687.78
LLL Leolithiumlimited 0.4625 -3% 14% -3% $468,662,033.20
FG1 Flynngold 0.096 -4% -4% -3% $6,342,043.95
SRZ Stellar Resources 0.016 7% -11% -3% $13,848,493.33
AZI Altamin Limited 0.09 -5% -5% -3% $36,429,657.94
EMS Eastern Metals 0.14 -7% 4% -3% $5,605,156.25
A8G Australasian Metals 0.24 17% -8% -4% $10,292,623.50
KZR Kalamazoo Resources 0.23 31% -2% -4% $34,846,649.76
STM Sunstone Metals Ltd 0.045 5% -12% -4% $122,032,981.69
LNR Lanthanein Resources 0.021 17% 31% -5% $18,432,162.54
M2R Miramar 0.1 18% -9% -5% $6,739,599.62
THR Thor Mining PLC 0.0095 6% -5% -5% $10,689,009.73
GSM Golden State Mining 0.05 16% 2% -6% $6,170,329.91
TYX Tyranna Res Ltd 0.029 53% 32% -6% $47,503,180.68
MXR Maximus Resources 0.05 11% 0% -7% $17,166,911.47
MM1 Midasmineralsltd 0.185 -16% -3% -8% $11,426,352.80
FTL Firetail Resources 0.23 -6% -15% -8% $15,445,625.00
KGD Kula Gold Limited 0.026 13% -7% -10% $6,240,093.33
LSR Lodestar Minerals 0.006 -14% 0% -14% $12,169,061.44

 

A solid 62 stocks were in the green, 46 were flat and 23 were red.

 

Who has news out today?

EUROPEAN LITHIUM (ASX:EUR)

The company has received a massive vote of confidence with premium automobile manufacturer BMW AG signing up to be its first offtake partner for battery-grade lithium hydroxide from the Wolfsberg project in Austria.

BMW AG previously flagged that by 2030, 50% of its sales would be electric vehicles, a move that is certainly welcome in the European Union given its move to effectively ban petrol and diesel cars from 2035.

“Securing our first offtake with BMW AG is another key milestone for the company. Partnering with BMW AG is an ideal fit for EUR,” chairman Tony Sage said.

BMW AG has been granted the first right to purchase 100% of the lithium hydroxide produced from identified resources at the project, which currently stands at about 12.88Mt grading 1% Li2O.

Should both parties agree to a binding contract, BMW AG will make an upfront payment of US$15 million, which will be repaid through equal offsets against deliveries of the battery chemical.

Proceeds from the prepayment will be used for the development of the Project including supporting the commencement of the construction phase and further progress towards the successful implementation of the Wolfsberg Project.

 

GREENWING RESOURCES (ASX:GW1)

Greenwing has wrapped up a Transient Electromagnetic (TEM) Geophysical survey at its San Jorge Lithium brine project in Argentina, which it says has “significantly expanded the surface area underlain by a highly conductive response, indicative of an expanded brine body.”

CEO Craig Lennon said the information will be used to finalise locations for the Phase 1 drilling program, to confirm the range of lithium concentrations and porosity values in the project.

“We look forward to commencing the maiden drilling program when the permit is approved by the Mines Department, amid the continued strong outlook for lithium long term,” he said.

Drilling is planned for September/October.

 

CORE LITHIUM (ASX:CXO)

Core has appointed a new CEO in Gareth Manderson, who has 28 years’ experience in various leadership and technical roles.

His experience in developing teams, delivering projects and safely operating mining and processing operations make Gareth the perfect fit for Core’s first CEO, as our Finniss Lithium Project moves from construction to operation later this year,” chairman Greg English said.

“There are many synergies between Gareth’s previous senior roles in managing complex mine, mineral processing, port, township and logistics operations during his tenure at Rio Tinto and the Finniss Project which is 25km from the Darwin CBD and port.

“Gareth’s previous Northern Territory experience and managing the effects of the annual wet season will also be essential as we plan to be operating in this environment for years to come.”

 

EUR, GW1 and CXO share prices today:


 

 

At Stockhead we tell it like it is. While European Lithium is a Stockhead advertiser, it did not sponsor this article.

 

The post Eye on Lithium: Lithium exports go parabolic, set to contribute $9.4b to Australia’s economy by 2023-24 appeared first on Stockhead.




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